Dar claims that the economy is on the right track.

Finance Minister Ishaq Dar stated on Saturday that Pakistan is on the right track and will not default, despite opposition propaganda.

"Pakistan will not default solely due of opposition propaganda" (Pakistan Tehreek-i-Insaf). "The country's orientation is correct, and it is not on the verge of default," Mr Dar asserted during his meeting with business leaders.

PTI Chairman Imran Khan and other party leaders have predicted that Pakistan will fail due to the coalition government led by the PML-"bad N's policies." Mr Khan believes that the country's economy can only be stabilized if a stable administration pursues new elections and addresses the crisis.

Mr Dar went on to say that the opposition was harming the country's "economic cause." "In addition, the opposition is attempting to deter foreign investment in the country by spreading corruption stories." "The PTI must take a serious stance and refrain from meddling with the country's economy," he emphasized.

The minister bemoaned the treatment he received during the PML's previous administration. "I was treated as if I were a terrorist." And my only offense was that I was repairing the country's economic ills. "I was compelled to live in self-exile (in the United Kingdom) for five years," Mr Dar explained.

He also chastised the previous PTI and PML-N governments for continuing with the rupee depreciation policies. "We depreciated the rupee." "During Shahid Khaqan Abbasi's tenure, I made it clear that if a devaluation policy was followed, the government would be unable to stop the depreciation of our currency," he asserted.

Ishaq Dar criticized his party's former finance minister, Miftah Ismail's, policies. Mr Dar succeeded Mr Ismail upon his return from London in September after getting bail in a NAB corruption reference. He focused on stabilizing the local currency.

During his first few weeks in government, the rupee rose in value against the US dollar, reaching over Rs230, and foreign cash, particularly the US dollar and Euro, is scarcely accessible in the open market.

Mr Dar stated that no more experimentation with the national economy will be permitted. "We are doing everything we can to stabilize the economy," he said, adding that the administration has resolved to put a halt to wheat smuggling on a war footing.

According to Samaa TV, he stated that the way Pakistan was expanding while the PML-N administration was in power, it should have been among the G-20 countries now. Instead, he bemoaned the fact that "our economy is today ranked 46th in the world."

The finance minister recalled that when they took over in 2013, many people predicted that the country would default, but the PML-N government was able to avoid that.

Mr Dar remarked of the current issues confronting the PDM government, "We would have to work hard and focus on improving Pakistan's macroeconomic indices."

"Here, the wealthiest get their loans cancelled off, but if a few thousand poor widows' loans are late, their properties are taken," he explained.

A participating businessman, Gohar Ijaz, pushed the government to lower the interest rate. Despite inflation, Turkey kept interest rates low; "why can't we?" he wondered.

Comments

Traders should approach their activity as a business.

Traders need the same self-control as any other successful entrepreneur. The very first thing you need to do is create a trading plan on paper. You should keep your own records so that you may evaluate your broker's statements independently. A straightforward Excel tally sheet detailing daily, weekly, and monthly totals would do the trick. Include gross profit/loss, a number of trades, commission expenses, ECN fees, other costs, net profit/loss, equity (verify that it matches brokerage reports), and any pertinent data. Use this data to your advantage and become a better trader. Look for trends and the connection between revenue and expenditures. Included in your trading plan should be a breakdown of the many trades you intend to make during the day or week. Traders that are likely to succeed do not just look at their charts and make a move. Before moving forward with an attack, they considered every possible outcome and made preparations accordingly. The first and most crucial step

The Dollar Rises to a New 5-Week High Ahead of Jackson Hole on the Fed's Hawkish Tack

After another Federal Reserve member signaled the probability of sustained aggressive monetary tightening on Monday, the U.S. dollar index jumped to a new five-week high before the Fed's critical Jackson Hole symposium this week. After Russia said that it might cut off European gas supplies through the Nord Stream 1 pipeline for three days at the end of this month, worsening the region's energy crisis, the euro dropped to its lowest level in five weeks. The Chinese central bank slashed key lending rates, the latest in a series of monetary easing measures meant to shore up an economy suffering from COVID-19 crackdowns and a property crisis, which caused the yuan to fall to its lowest level in over two years. Last up 0.074% at 108.23, the U.S. dollar index rose to 108.26 for the first time since July 15 versus a basket of six rival currencies that includes the euro. This comes after a week in which the market rose 2.33 percent, its largest weekly rise since April 2020 and against

A Bitcoin charity event has been announced by Hal Finney's wife.

She stated that the purpose of the event is to raise money in order to provide assistance to people who have been affected by ALS. Fran Finney, the wife of the pioneer in the field of cryptography Hal Finney, has announced a charitable event that will benefit patients suffering from amyotrophic lateral sclerosis (ALS). Finney, who was discussing the event on Twitter, urged users of Bitcoin to participate in a half marathon and share their experiences on social media between January 1 and January 10, 2023 in order to contribute to the fundraising effort to combat the disease. Fran Finney, using her husband Hal Finney's official Twitter account, was the one who made the announcement. She had previously reactivated the account in order to save it from being deleted during a purge that Twitter performs on inactive accounts. The event, which is being held in conjunction with the Golden West Chapter of the ALS Association, was given the moniker "Running Bitcoin" in honor of the

EconomyDiary

Search This Blog